Complaints

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• Initial Complaint

  Date:03/13/2024

  Type:Delivery Issues
  Status:

  AnsweredMore info

  Complaint statuses

  Resolved:

  The complainant verified the issue was resolved to their satisfaction.

  Unresolved:

  The business responded to the dispute but failed to make a good faith effort to resolve it.

  Answered:

  The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.

  Unanswered:

  The business failed to respond to the dispute.

  Unpursuable:

  BBB is unable to locate the business.

  ***** from Corporate Guardians originally contacted myself and 5 other members of my family. We were told via the contact with ***** that there were 6 insurance policies taken out on us kids and that he needed our addresses in order to send us the policy information so we could then get the policies put in our name. He then sent all of us the policy information telling us to contact the insurance company to get things put in our name. I called the insurance company and was told that this policy is in the name of the Trust and that the only person who has the ability to change this policy is *****. I informed ***** of this. He is now offering up the policies to us with the option to buy these policies out for the cash value of them. I'm very leery of this business and the fact that they are so grossly incompetent to even handle such a transaction. Will it be a legal/honest transaction? How can I have any confidence that these people are legit? They say one thing and then say another. Who is in charge of licensing and over seeing what these people do? They need to be looked into. I have attached some correspondence for your reference.

  Business Response

  Date: 03/25/2024

  I am providing the following response to the complaint.  Our agency is appointed as trustee in this matter.  We have served as trustee since 2019 until our client passing.  We are working to close out the trust and there is a trust attorney retained to assist in that process.  There were six life policies that were taken out in 1970 for 6 of 8 of our client's children.  The policies are owned by the trust and have a cash value.  The trust attorney made an error in interpretation of these policies thinking that the policies were owned by the children(insured/beneficiary).  I was given direction by the attorney to reach out and contact the heirs.  The heirs(children of the decedent) had no knowledge that these policies existed and in conversations with some of the children, they had no contact with their father for over 25 years. I am not at liberty to discuss why their was no relationship.  My client also refused to talk about his children during our time as trustee.  In follow up review of the policies, it was learned that the policies are owned by the trust, therefore, we have a legal obligation to cash in these policies since the cash value is an asset of the trust, therefore the proceeds of those policies would need to go to the beneficiary of the trust which is a charity organization.  The trust attorney has sent a letter out to the each of the children giving them the option to buy out the policy for the current cash value.  They have until the end of April to make that decision.  If they choose not to buy out the specific policy by the stated deadline for which they are listed as the insured, the policy will be cashed in and the proceeds transferred to the trust so we can complete our work and close out the trust.  Each of the children have been sent a follow up letter from the trust attorney explaining their options and the contact information for the trust attorney.  The complainant has been directed to contact the trust attorney with her concerns as this oversight error was not of the trustees doing.  I send the complainant a final follow up email directing her complaints to the trust attorney, rather than her ongoing bashing of the trustee.  Her comments are inaccurate and her emails are inappropriate.   It should be noted that our client left nothing to any of his children in this matter, so that should clearly show that there was no relationship.  All proceeds from the trust are going to a charity organization per the trust documents and the children all have the contact information for the trust attorney.  My sense is that this is just an unsubstantiated complaint based on emotion and a bad father/daughter relationship and the fact that their father left them nothing in his trust/estate.  Thank you for your time.  You can reach out with follow up questions by contacting me directly or I can put you in direction contact with the trust attorney.  

  Customer Answer

  Date: 03/28/2024

  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and have determined that this does not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
  
  It would have been nice if ***** would have taken the time to label this all out in the beginning.    My point I want him to understand is that he had no business contacting us in the first place.    The policies could have just been cashed out like everything else was and donated to the Red Cross.    There was a reason that 8 children had no contact with this guy.    So... why would we want some CFO contacting us with inaccurate/ fraudulent information regarding a policy that we have no control over.    I am amazed that ***** still cant figure why he is at fault here.    Sure mistakes happen.    Own up to them.     Apologize and take the time to explain how a trust attorney and a CFO of Corporate Guardians could get this so wrong.    I have every right to be upset that this happened.    Do better next time.     
  
  Regards,
  
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